VSTM Longterm view - multiyear base building and breakout VSTM is using the past 3 years to build a long cup and handle formation, we have seen longterm resistance 6.59 broken with a big enough accumulation to offset previous big sell-off spike. It seems like it wants to try to test mid 7 soon. Breaking 7 could be an easy one with the current momentum.
There might be some serious resistance between 8.3 to 9.8. With the target as high as $17, it will be eventually broken, depending on R&D news, FDA approval, investment, and BO rumors/offers. It seems tough times is behind, we will see how this goes.
* Note: use this as reference only, don't buy any stocks without your own research and DD. This is opinion, not advice.
0LOV trade ideas
Verastem VSTM Buy OpportunityVSTM has a current median price target of $11.00 and Cantor Fitzgerald has reissued its Buy rating at a $17.00 price target. An ascending triangle is currently in formation which could suggest a near term break. The shares now sit on the base of the lower resistance line suggesting a good buy in opportunity for those willing to take on a high risk, high return position.
Flag or Wedge? Can this rally continue?New week, new charts =)
Do we have a Wedge or a flag?
More important, can this strong trend continue, or will it brake down?
As a trendfollower, I say YES WE CAN! As a realistic person, I say "good thing we have that paper trading tool"
So only for research, I will open a long position here, but only a PAPER TRADE! It is quite risky after a spike like this, so I will keep it on watch, prob for a short position =)
Tell me what you think about the wedge, flag, triangle, channel, etc. what pattern is this?
VSTM Wave completion + other concurrent price action
I'm long 500 units VSTM given the completion of the wave cycle + concurrent daily close above .38 fibo AND minor support from the initial trend reversal line established back in March.
Be careful though, fundamentals are fairly weak with this small cap company failing to produce a profit. Stop loss set tight at around 1.8. 5 year target at $15+. Short term, I expect to see $5/share, hopefully by the end of the year. Assets alone value over $2/share, so for me, it's a moderate risk.
My first day here at TradingView, cut me some slack :-D Any input would be greatly appreciated.